Maersk Oil downsizing could hurt Qatar prospects

While Maersk Oil's core business activities in Qatar are staggering, that's exactly where the Danish company wants to direct the surgical knife with layoffs. It may send a strong signal to authorities in Qatar ahead of important negotiations, says one analyst.

MATHIAS ØRSBORG JOHANSEN, ENERGIWATCH

Maersk Oil announced new layoffs Monday, cutting into 10-12 percent of the staff. While a portion of the jobs will come from the headquarters in Copenhagen, most redundancies will take place in Qatar or Norway.

Already a subscriber?Log in here

Read the whole article

Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

Access all locked articles

Receive our daily newsletters

Access our app

Get full access for you and your coworkers

Start a free company trial today

Oil giants wage war on EU over price speculation
For subscribers
Oil hopes dashed by OPEC meeting
For subscribers
Maersk Oil reduces workforce by 10-12 percent

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Newsletter terms

Front page now

Halvor Sveen is chief executive of Oslo-based shipping bank Maritime & Merchant. | Foto: Marine Money/Oscar May

Suppliers

Maritime & Merchant notes fierce competition in loans for shipping

Maritime & Merchant Bank took a close look at peer Danish Ship Finance, which was recently sold.

Erling Braut Haaland buys up in Norwegian shipping bank

Norwegian shipping bank expands portfolio despite container downturn

For subscribers

Logistics

Packed container ships trigger surge in air freight demand

For subscribers

The penal code provision on trespassing is used when someone enters private property without permission. | Foto: Jens Dresling/Ritzau Scanpix

Container

14 arrested at demonstration in front of Maersk headquarters

For subscribers

Container

Spot prices for container freight continue to rise

Chief executibe of Wallenius Wilhlemsen Lasse Kristoffersen, and chief executive of Höegh Autoliners Andreas Enger. | Foto: Wallenius Wilhelmsen and Javad Parsa

Carriers

Norwegian car carriers bag multi-year contracts

For subscribers

Foto: Hannibal Hanschke/Reuters/Ritzau Scanpix

Regulation

IMO's fossil fuel ban in the Arctic faces criticism

For subscribers

Record influx of container ships this year will not cause trouble until 2025

The number of container ships is growing at record speed, but will not cause serious overcapacity until 2025, according to Bimco.

For subscribers

Cosco and CMA CGM expect further pressure on major European ports

French CMA CGM is expanding capacity on the Asia-Europe route to ease peak season congestion over the summer.

For subscribers

”We are very happy with how our new organization is working and we are hearing the same from our customers,” writes Kuehne+Nagel about the reorganization implemented at the company in early spring. | Photo: Daniel Reinhardt/AP/Ritzau Scanpix

Kuehne+Nagel triggers unrest among staff with new management structure

The logistics major may have lost talent and created confusion, according to current and former managers. The company does not share the concerns.

For subscribers

Dry cargo carriers discussed the green transition at Marine Money Week. | Foto: Foto: Marine Money Week

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Bulk majors Golden Ocean, Genco and Navios do not see a consensus on green fuels for bulk shipping in the short term.

For subscribers

Less than one percent of the container fleet is currently idle

New data shows that only 77 container ships in the entire global fleet are not working, a number not seen since the pandemic.

For subscribers

Photo: Bernd Von Jutrczenka/AP/Ritzau Scanpix

Congestion in Asian ports is now as bad as during Covid

The Port of Singapore has not seen such pressure from high container volumes since the pandemic as nervous shippers move forward the peak season.

For subscribers

Kuehne+Nagel triggers unrest among staff with new management structure

The logistics major may have lost talent and created confusion, according to current and former managers. The company does not share the concerns.

For subscribers

Container

Cosco and CMA CGM expect further pressure on major European ports

French CMA CGM is expanding capacity on the Asia-Europe route to ease peak season congestion over the summer.

For subscribers

Ports

Congestion in Asian ports is now as bad as during Covid

The Port of Singapore has not seen such pressure from high container volumes since the pandemic as nervous shippers move forward the peak season.

For subscribers

Container

Less than one percent of the container fleet is currently idle

New data shows that only 77 container ships in the entire global fleet are not working, a number not seen since the pandemic.

For subscribers

Container

14 arrested at demonstration in front of Maersk headquarters

14 people have been charged with trespassing in connection with the demonstration on Esplanaden in Copenhagen.

For subscribers

Bulk

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Bulk majors Golden Ocean, Genco and Navios do not see a consensus on green fuels for bulk shipping in the short term.

For subscribers

Jobs

Sales Support Manager

Fuel Supplier to lead Dry Cargo for Dan-Bunkering Europe

Chartering Executive, MPP & Minibulk Services

Chartering Manager

Project Manager WTG – Offshore Wind Industry

See all jobs

Maersk Oil downsizing could hurt Qatar prospects

Read the whole article

With your free trial you get:

Get full access for you and your coworkers

Share article

Related articles

Oil giants wage war on EU over price speculation

Oil hopes dashed by OPEC meeting

Maersk Oil reduces workforce by 10-12 percent

Sign up for our newsletter

Front page now

Maritime & Merchant notes fierce competition in loans for shipping

Packed container ships trigger surge in air freight demand

14 arrested at demonstration in front of Maersk headquarters

Spot prices for container freight continue to rise

Norwegian car carriers bag multi-year contracts

IMO's fossil fuel ban in the Arctic faces criticism

Record influx of container ships this year will not cause trouble until 2025

Cosco and CMA CGM expect further pressure on major European ports

Kuehne+Nagel triggers unrest among staff with new management structure

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Less than one percent of the container fleet is currently idle

Congestion in Asian ports is now as bad as during Covid

Further reading

Kuehne+Nagel triggers unrest among staff with new management structure

Cosco and CMA CGM expect further pressure on major European ports

Congestion in Asian ports is now as bad as during Covid

Less than one percent of the container fleet is currently idle

14 arrested at demonstration in front of Maersk headquarters

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Jobs